Shares of China Unicom Hong Kong Ltd gained as much as 10.9 percent before closing up 3.5 percent at HK$12.36, its highest close in more than two years.

Trading in China Unicom’s Hong Kong-listed shares was suspended last Wednesday as the company announced plans for a mixed-ownership reform.

Media worries that the plan would violate rules on private placements were alleviated when the China Securities Regulatory Commission said late on Sunday that it would treat the plan as “an exceptional case.”